New PE-backed diagnostics firms hurting growth, says Thyrocare founder

Diagnostics chain Thyrocare Technologies Ltd, which was listed on the stock exchanges last year, is seeing disruption from new-age private equity-backed diagnostics firms. Thyrocare founder and CEO A Velumani told VCCTV that the company is growing at a slower pace than its potential because of new labs that are funded by investors. He says the new labs are burning money as they are driven more by volumes than profit. Velumani also talks about the recent exit by multi-stage investment firm Norwest Venture Partners and expansion plans. For more, watch the video.

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